Elmet Group (NASDAQ:ELMT) Sets New 52-Week High – Time to Buy?

Elmet Group Co. (NASDAQ:ELMT) shares hit a new 52-week high on Saturday . The stock traded as high as $22.51 and last traded at $20.44, with a volume of 841812 shares. The stock had previously closed at $19.43.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ELMT shares. Wall Street Zen raised Elmet Group to a “hold” rating in a report on Saturday, May 2nd. Roth Mkm assumed coverage on Elmet Group in a report on Monday, May 18th. They issued a “buy” rating and a $21.00 price objective for the company. Canaccord Genuity Group assumed coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $20.00 target price for the company. Cantor Fitzgerald assumed coverage on Elmet Group in a report on Monday, May 18th. They set an “overweight” rating and a $20.00 target price for the company. Finally, Needham & Company LLC assumed coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Elmet Group Stock Up 5.2%

Elmet Group (NASDAQ:ELMT) last posted its earnings results on Friday, May 29th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.41. The company had revenue of $56.01 million for the quarter, compared to analysts’ expectations of $52.77 million.

Insider Transactions at Elmet Group

In other Elmet Group news, Director Kimberly Monzeglio Anania acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was bought at an average price of $14.00 per share, with a total value of $98,000.00. Following the completion of the acquisition, the director owned 7,000 shares of the company’s stock, valued at $98,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathie Merrill Leonard acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were acquired at an average cost of $14.00 per share, with a total value of $70,000.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $70,000. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information.

Elmet Group Company Profile

Elmet provides precision-engineered components and advanced high-energy systems for growth markets. Our customers in these markets require advanced technology involving critical and strategic materials, such as tungsten, molybdenum and niobium (such materials, the “Critical Materials”) and high-level radio frequency (“RF”) engineering, including plasma generation, radar, and other high-energy systems (together, “High-Power Microwave”). Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries.